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Superannuation Total and Permanent Disability (TPD) Insurance

If Captain Protection were to ever lose his powers like Logan losing his healing abilities in The Wolverine, he might not be able to go back to his job protecting Australian citizens. Of course, as a superhero this is just hypothetical, but if you were injured and unable to work, you need to know you have the proper protection in place. Reduce how much you’re spending with Superannuation Disability Insurance!

Two types of Total and Permanent Disability Insurance that can be funded from your Superannuation

  1. “ANY” Occupation TPD: This is a basic form that meets the SIS requirements for TPD in super. Claims are generally only paid if the insured is disabled and unable to return to any occupation ever again.
  2. “OWN” Occupation TPD: This is regarded as a more liberal definition of TPD. Claims are generally paid if the insured is disabled and unable to return to their own usual occupation ever again.

If you select the Superlink option, two policies will be issued. An Any Occupation super policy is issued to the trustee of a uperannuation fund, and a second non-superannuation own occupation TPD policy is issued to you. The sum assured is the same on both policies.

How Superlink can fund your total and permanent disability insurance with superannuation

A claim will first be assessed using the ‘any occupation’ definition of TPD, and then under the SIS definition of permanent incapacity that governs the conditions of release for superannuation. If these definitions are satisfied, the TPD benefit will be paid to the trustee of the super fund on your behalf. The trustee will then consider allowing this benefit to be paid to you outside super. If the SIS definition isn’t satisfied, your claim will then be assessed as an ‘Own Occupation’ policy held outside of superannuation. If the claim is approved, the lump sum will be paid directly to you.

The amount of cover can only be paid once, either via the Any or Own Policy. Payments under TPD insurance will also reduce the life insurance benefit amount by the amount paid. The client will be able to buy back the cover after 12 months.


Get the right protection for you and your family and apply now

Apply with us now to ensure you have a safety net in place! To learn more about this or another area including income protection through your super, simply phone 1300 316 048 to chat with a friendly (super)human.

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